This article is promising. I've seen a couple of references to this sort of thing, also in Japan. Still, it is a fairly substantial infrastructure investment, you'd need a lot of buses to pay it back. A single charging station like in Nanobus is much cheaper, and gives most of the benefit of this approach.

"The first public demonstration of the Online Electric Vehicle, or Olev, was, however, as much about the road on which it travelled as the prototype bus itself. Electric power strips have been buried 30cm (12in) under the surface and connected to the national grid. They provide electromagnetic power to the vehicle, wirelessly, charging an onboard battery and powering the bus’s electric motor. The power strips need to be embedded in only 20 per cent of the length of a road to keep the vehicle running."